Texas Court Reverses ConocoPhillips' Oil Field Stake Win

Law360, Washington (April 16, 2012, 7:27 PM EDT) -- A Texas appeals court remanded a gas and oil exploration ownership case back to a state trial court Friday, saying the lower court had erred by granting ConocoPhillips Co. and its partners summary judgment and denying the claims of another oil field exploration partner.

Texland Petroleum LP had sued ConocoPhillips, Scythian Ltd., CK Gas & Oil Investments Ltd., BKDK LP and Rocker A Operating Co. for its 25 percent share of a Hockley County, Texas, property that has been used for oil and gas exploration....